16 — Wednesday, September 2, 1998 — North Shore News north shore news & BUSINESS Fall tips for fi AS those back-to- school ads and promo- tions prepare you and the kids for another educatien experience, make sure some money- smarts courses are on the curriculum. ‘The best way to teach _ your youngster(s) is by exam- «> ple. Fall offers you a chance . .to.make a fresh start at man- : aging your own finances “more effectively: WB Are you saving/investing 4. regularly? For example, set up _ am automatic monthly RRSP program so you will have reached your maximum by the March 01, 1999, deadline “, for the 1998 tax year. Are our mutual fund, stock, nd, GIC and zeal estate investments appropriate in lay’s markets? -@ Could you reorganize your debts to take advantage of dventure’ and’ I. never went today’s low rates? To pay off the debts faster? To make your debt deductible (for example, flow through rental or self-employment income to pay off personal debt and borrow to pay rental and business expenses)? & Do you have a plan to reduce your income tax bill for this year (like shifting income to family members in a lower bracket, or investing for capital growth rather than income)? Most steps must be taken by Dec. 31 Very few schools teach students about moncy man- said Croteau of his tip. fia ¢ west is the best I guess.” | Incidentally Gambrinus was Fi king who is credited - - ving invented beer: ‘Short: cuts sbury’s atmosphere its clients seem to njoy. “Tts* staff dre partly sonsible for that, uttniann has offi- a hair’ stylist for ‘though she actual- ed doing it at the age of rhen she began ewise a long-time hair styl-' © started at a young age. she has kept one client the duration. “I’m .one of her’ oldest lients,”. said mom Anne Kean ampus ‘of " Maite Heyes dio offers tip ari upbeat EE CLAUDE Croteau_ heads up the kitchen of Gambri- nus Restaurant, GQueens- bury’s newest addition. in the process of receiving her umpteenth tim. Chop block Hallie Fraser has been involved with martial arts almost her whole life. : ~ “As a child I did gymnas- tics,” recalled Fraser. And in gymnastics you have to retire at a very young age and I had all this energy and I didn’t know what to do.” 7265 West Esplanade, N.Van. ral Government has introduced legislation that will ultimate- e licensing of all boat operators. You can be prepared for is k a Canadian Power & Sail Squadron Boating Course. RVAN POWER and SAIL SQUADRON will be offering the following ing courses at Pacific Marine Training Campus (PMTC) this fall: Boating Mons or Tues for 13 weeks, starts Sept 8 Marine Maintenance Tues for 14 weeks, starts Sept 15 © Weather Weds for 14 weeks, starts Sept 16 ’.@ VHF Radio Thurs for 3 weeks, starts Oct 15 Junior Navigation’ TBA ¢ Piloting’ Mons for 14 weeks, starts Sept 14 ("not available tn the general public) Registration for all courses will be at PMTC on Tuesday, September 8, on ‘at 6:00 p.m. Courses are held from 7pm-9pin , For more information call Norvan Power Squadron Bill Aleock: Squadron Training Officer 985-9317 agement. So to the extent they can understand, involve your children in the family’s finances: @ Sct up monthly mectings to talk about saving and spending priorities. For example, draw up a budget for Christmas/winter holiday spending — gifts, entertain- ing, perhaps travel. Starting, in September, put aside enough money every payday or month so you will have the funds you need by December — enough to pay cash or at least reduce bor- rowing. Review what you pay the kid(s) as an allowance, or to work in your self-employed sideline or full-time business or on your rental properties (one of the best ways to split. income and save tax). @ Set up not only a savings but also an investment pro- gram — a mix of GICs or bonds, ‘mutual funds or indi- She ended up channeling that energy into martial arts and tackwondo in particular. It rurned out to be a good fit and Fraser has not only pro- gressed to a fourth degree black belt, she has also devel- oped the interest into a source of livelihood via her studio, North Shore Tackwondo, originally situated in Lower Lonsdale. Building a successful busi- ness can be a crap shoot and moving an existing business can be devastating to a client base, but Fraser said the move to Queensbury has been a suc- cess. “Business has been won- derful. I was very nervous to move off Lonsdale where everyone can see you ... but the parking is better,” said Fraser. “The people in our neighborhood were so happy when we maved in because this is an old building and we made it look better.” All the rest... The other businesses in the Queensbury shopping district include Grace Wok Restaurant, Gangster’s Pizza, Queensbury Market and Express Alterations. i [ [ | i vidual stocks, even the youngster’s own business. BB As they grow older (and hopefully more mature!), give ‘ the child(ren) increasing responsibility for spending moncy — on clothing, music, entertainment, even school trips and holidays. ® Teach the basics of income tax. As soon as they have any income (even if it’s not enough to pay tax), children should file tax returns to build up RRSP contribution room for later use. Mik — Copyright 1998 Mike Grenby Mike Grenby isa columnist and independent personal financial adviser; he'll answer questions in this column as space allows but cannot reply personally — con- tact him at P.O. Box 50029, South Slope R.P-O., Burnaby, BC. V5] 5G3; e-mail mikc@grenby.com and see pre- vious columns at Mike’s web- Site, wwwgrenby.com Correction An Aug. 26th News story incorrectly identi- fied Hammond Enterprises as B.C.’s authorized dealer dis- tributing the PC Y2K solution. The authorized dealer is John Immink and Associates, with which Hammond Enterprises is affiliated. Michael Hammond, owner of - Hammond Enterprises in North Vancouver, was also quot- ed as stating — that “Anyone still using Windows 3.1 is not com- pliant” with his solution. Hammond said this was inaccurate and added, “Any computer still using 286, 386, or 486 proces- sors will not be compli- ant, along with some carly Pentium systems.” Hammond Enterpris- -es can be contacted at 985-5252 or via e-mail © at: michaclhammond@ sprint.ca. The News regrets the error. Se GUARD Rate Watch .. THE RETIREMENT SPECIALISTS Monthly income on $50,000 investment “Rates subject to change without notice We've illustrated various rates Solguard Financial Ltd. and payout options, but each individual's circumstances are unique. For more information, or a no-obligation consultation, please call... 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